Transaction could become one of the country’s one of the biggest-ever equity sales.
Oil Sands Mining News
Cenovus Energy Inc. has closed its previously announced purchase of assets in Western Canada from ConocoPhillips after receiving all necessary regulatory approvals for the transaction.
During the mining trial done at a depth of 4,153 feet, engineers extracted each day around 16,000 cubic metres of gas, with methane content of up to 99.5%.
Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.
The Lewis project would be located about 25 km northeast of Fort McMurray and could eventually produce up to 160,000 barrels a day.
So far in 2017 a number of global energy experts and commodities watchers have looked beyond the current reporting period and they see a growing long term demand for oil and gas.
Speaking this week at the Bloomberg New Energy Finance conference in New York, Total SA's chief energy economist, Joel Couse, forecasted that EVs will make up 15 to 30 percent of global new vehicle sales by 2030.
Over the weekend, Syncrude completed the necessary repairs and start-up activities to begin shipping product by pipeline.
Majors look to a future with renewable energy – and possibly without oil.
Pipeline shipments would restart at approximately 50% of capacity in early May.
Vancouver company focused on bringing $13 billion oil sands project into production before the end of the year
The biggest banks remain bullish on oil prices, but analyst projections about global supply and demand are increasingly diverging.
The fall was driven by a flood of shale natural gas supply and renewable power increasingly displacing coal, the International Energy Agency (IEA) said.
The Frontier project is located 110 kilometres north of Fort McMurray, in Alberta, around 40 kilometres from the Fort McKay First Nation's reserve.
Solar power, once derided as an expensive and unreliable energy source, has become a major generator of employment in the United States, according to new data supplied by The Solar Foundation.
If oil demand were to reach an actual peak, then the top might be easier to predict. As it stands, the forecast models of demand are likely predicting peak demand far later than it will be.
Equipment and services suppliers will have to wait at least another year until they can fully feel the impact of this trend, says CSA Global — the world's second-largest mining sector consultancy.
Suncor Energy, the largest partner in Syncrude, said it expects to meet its 2017 production targets despite a fire that shut down the Mildred Lake upgrader almost two weeks ago.
One thing is being largely left out of the pro- vs anti-pipeline discussions of late – the plain and simple fact that we need them.
He said the project would employ 28,000 people, with TransCanada predicting only 13,000 temporary construction jobs and the US State Department saying only 50 of them will be permanent positions.
Suncor Energy’s plan to clean up tailings in some of its oil sands operations using water capping, also known as an end-pit lake, have hit a snag as the Alberta Energy Regulator rejected the proposal saying the firm’s plan lacked evidence the strategies would work.
"Investors are willing to back their positive sentiment towards natural resources with fresh capital commitments," says new study.
Ever wondered just how far down companies drill for oil?
Canadian energy guru Peter Tertzakian addressed the CFA Society Vancouver last week.
Takeover brings together two of the UK's largest energy services companies.